1858 Wealth Management LLC Invests $566,000 in Carlyle Secured Lending, Inc. $CGBD

1858 Wealth Management LLC purchased a new position in Carlyle Secured Lending, Inc. (NASDAQ:CGBD) during the 2nd quarter, HoldingsChannel reports. The fund purchased 41,343 shares of the company’s stock, valued at approximately $566,000.

Several other institutional investors have also recently made changes to their positions in CGBD. Quarry LP bought a new position in shares of Carlyle Secured Lending in the first quarter worth $32,000. Canton Hathaway LLC increased its stake in Carlyle Secured Lending by 271.0% in the first quarter. Canton Hathaway LLC now owns 9,795 shares of the company’s stock valued at $158,000 after acquiring an additional 7,155 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Carlyle Secured Lending by 17.1% in the first quarter. Sunbelt Securities Inc. now owns 10,297 shares of the company’s stock valued at $167,000 after acquiring an additional 1,500 shares during the last quarter. Cerity Partners LLC bought a new position in Carlyle Secured Lending in the first quarter valued at $170,000. Finally, SCS Capital Management LLC bought a new position in Carlyle Secured Lending in the first quarter valued at $188,000. Institutional investors own 24.51% of the company’s stock.

Insider Transactions at Carlyle Secured Lending

In other news, CFO Thomas M. Hennigan bought 7,285 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $13.75 per share, for a total transaction of $100,168.75. Following the completion of the acquisition, the chief financial officer owned 88,495 shares in the company, valued at approximately $1,216,806.25. This trade represents a 8.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John G. Nestor sold 13,238 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $13.49, for a total transaction of $178,580.62. Following the sale, the director owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. This represents a 47.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CGBD shares. Raymond James Financial raised Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Tuesday, October 7th. JPMorgan Chase & Co. raised Carlyle Secured Lending from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $13.50 to $12.50 in a research note on Wednesday, October 1st. Wells Fargo & Company raised Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $13.00 to $15.00 in a research note on Friday, July 25th. Finally, B. Riley reissued a “neutral” rating and issued a $14.50 target price (up previously from $14.00) on shares of Carlyle Secured Lending in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.83.

Carlyle Secured Lending Stock Performance

NASDAQ CGBD opened at $11.73 on Friday. The company has a 50-day simple moving average of $13.38 and a two-hundred day simple moving average of $13.93. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. Carlyle Secured Lending, Inc. has a 12-month low of $11.65 and a 12-month high of $18.64. The firm has a market cap of $597.76 million, a price-to-earnings ratio of 9.78 and a beta of 0.89.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Carlyle Secured Lending had a net margin of 29.71% and a return on equity of 9.85%. The business had revenue of $67.28 million during the quarter, compared to analyst estimates of $67.53 million. On average, equities analysts forecast that Carlyle Secured Lending, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 13.6%. The ex-dividend date is Tuesday, September 30th. Carlyle Secured Lending’s dividend payout ratio is presently 133.33%.

Carlyle Secured Lending Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.